ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Christmas

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A father of four children has bought them all an apartment for Christmas.
The Sunday Telegraph reported finance worker Majed Akil was afraid his adult children would never be able to save up a deposit on their own, so used his savings and equity in the family home to put down deposits on four apartments in Liverpool.
They are in the Coronation’s The Paper Mill project at Liverpool.
The four siblings are aged 19 to 30.
Two have taken over the mortgages with their partners.
The other units will be rented out until the younger two complete their university studies and are ready to move in.
“I wanted to give them a head start because I think it has become impossible for our kids to save $100,000 to $150,000,” Mr Akil said.
He bought the two bedroom units off the plan for between $487,000 and $546,000.
The similar apartments are on different floors.
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j.ballantyne1990-6AQqhLzZaK

Dad buys four kids an apartment each for Christmas in Coronation's The Paper Mill

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Ray White Bundoora seem to be the keenest agency scheduling auctions on the Saturday before Christmas.
The agency in north east Melbourne have four homes on their books for the 23rd of December, the only agency in the country with a handful of auctions set for that date.
Two of the properties are targeting developers.
One of the homes in Bundoora is set to be traded for the first time in over three decades. It last sold for $75,000 in 1984 and is now being marketed with a $690,000 to $740,000 auction guide.
Ray White Bundoora agent Olivia Wang said its a developer's dream or a perfect opportunity for an enthusiastic renovator.
The <a href="https://www.realestate.com.au/property-house-vic-bundoora-127108046" target="_blank">three bedroom home</a> sits on a near 590 sqm corner parcel and has a rental appraisal of between $350 to $400 a week.
Another developer targeted <a href="https://www.realestate.com.au/property-house-vic-preston-127056078" target="_blank">property is in Preston</a>, nine kilometres north of the Melbourne CBD.
Offered with an auction guide of $820,000 to $900,000 through Joe Torzillo, the current run down home on 560 sqm has three bedrooms and two living areas, with a kitchen still in original condition.
It last traded for $510,000 in 2009.
The closest home to the Ray White Bundoora office is a remodelled and renovated <a href="https://www.realestate.com.au/property-house-vic-bundoora-127049446" target="_blank">Regan Court home</a> (top and below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/12/8/eve2.jpg" alt="">
Complete with swimming pool on its 635 sqm parcel, it is being marketed by Joe Torzillo with $820,000 to $900,000 hopes.
A <a href="https://www.realestate.com.au/property-house-vic-mill+park-127068642" target="_blank">Mill Park home</a> north of Melbourne goes to auction on the same day, located in the sought-after Rivergum Estate.
Set on 625 sqm, the family home has four bedrooms, two bathrooms and a theatre room. It has a $950,000 to $1,045,000 guide through Vanya Kostur.
In NSW there is <a href="https://www.realestate.com.au/property-unit-nsw-east+gosford-127084954" target="_blank">a Gosford district offering</a> at 3.30pm on Saturday December 23.
 
 
 
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jrobinson-rf4aSBido9

Last minute pre-Christmas auctions ahead of Santa's visit

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In what is already shaping as a hotly contested retail high season, the early signs are not promising for consumer spending over Christmas 2017. The picture from November's Westpac-Melbourne Institute Consumer Sentiment survey is one of income pressures, nervousness about the year ahead and consumers looking to keep Christmas spending on a tight rein. A repeat of 2016's 'tepid' Christmas spend looks likely.
November's Westpac-Melbourne Institute Consumer Sentiment survey showed the consumer mood slipping back into slightly pessimistic territory after a brief moment of optimism in October (see <a href="https://www.propertyobserver.com.au/https://westpaciq.westpac.com.au/Article/29127" target="_blank">Consumer Sentiment Index back below 100)</a>. Responses to our annual question on Christmas spending underscore the lacklustre tone. The question asks if consumers expect to spend less, about the same, or more on Christmas gifts than last year. Just under a third of Australians expect to spend less on gifts this year than last, with 54% expecting to spend about the same and just 11% spending more – the lowest proportion since we began running this question in 2009.
The simplest summary measure of intentions is an index based on the net balance of responses, i.e. 100 + %more – %less. On this basis, the 2017 reading is 78, down 2.3% from 79.9 in 2016. This year's read is comparable to the 2009-13 period which saw five successive years of readings in the 77-79 range . While far from the disastrous, 66 reading in the depths of the GFC, the 2017 index is also a far cry from the most recent peak in 2015 (87.0) and the record high in 2007 (91). Overall, the 78 reading is broadly consistent with flat per capita growth in retail sales. Allowing for population gains, that points to aggregate retail sales growth of around 1.6%yr, in line with the current subdued pace and down on the 2% gain in 2016.
The survey detail offers few redeeming positives. The state responses show consumers in Vic and NSW are a little less inclined to restrain spending and Qlder's are less pessimistic than last year but those in SA and WA are tilting more towards cut backs (the latter a notable weak spot). Sub-group variations were also fairly minor although responses amongst those aged over 55, middle income earners and consumers with a mortgage show bigger pull backs vs a year ago.
The wider picture from Consumer Sentiment is of a similar lead-in to last year. That puts the Christmas 2017 in the 'middle of the pack' by long term historical standards but will clearly come as a disappointment for Australian retailers who have already endured a lacklustre, stop-start year for sales. 
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Christmas spending plans point to flat finish to a flat year: Matthew Hassan

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<div class="section">GUEST OBSERVER</div>
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<div class="section">With barely 30 shopping days left till Christmas, the latest signs from the Westpac-Melbourne Institute Consumer Sentiment survey point to a more downbeat holiday spend than a year ago but with plans still in slightly better shape than other 'post GFC' years. <div class="layoutArea">
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The November Westpac-Melbourne Institute Consumer Sentiment survey included an additional question on plans for spending on Christmas gifts, asking: “will spend less, about the same, or more compared to last year?” The results show consumers taking a more restrained approach in 2016 with 34% planning to 'spend less’, 52% 'the same’ and 14% ‘more’. That compares to a 30%:53%:17% mix in 2015.
<a href="/images/2016/11/23/Screen%20Shot%202016-11-23%20at%209.05.31%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/23/Screen%20Shot%202016-11-23%20at%209.05.31%20AM.png" alt="">
 
The simplest summary measure of intentions is an index based on the net balance of responses, i.e. 100 + %more – %less. On this basis, the 2016 reading is 79.9, down from 87.0 in 2015. That in turn followed five successive years of readings in the 77-79 range, a disastrous 66 reading in the depths of the GFC and a record high 91 during the consumer boom in 2007.
<a href="/images/2016/11/23/Screen%20Shot%202016-11-23%20at%209.06.41%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/23/Screen%20Shot%202016-11-23%20at%209.06.41%20AM.png" alt="">
 
All up that places 2016's read down sharply on 2015 but still a touch above the lacklustre results over the previous five years. Going by the retail sales results in those years this looks to be roughly consistent with a 1.5-2%yr rise in per capita spending. With population growth tracking at 1.4%yr, total retail sales will likely be up about 3-31⁄2%yr – a 'so-so' year compared to the 5% gain in 2015.
<a href="/images/2016/11/23/Screen%20Shot%202016-11-23%20at%209.07.42%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/23/Screen%20Shot%202016-11-23%20at%209.07.42%20AM.png" alt="">
 
The survey detail shows the biggest cooling off vs a year ago has been in NSW, with spending plans notably firmer in Vic and improving marginally on last year for consumers in SA, Qld and WA. That said, spending plans in SA and the 'mining states' are still tracking at markedly weaker levels than in NSW and Vic. By sub-group, the biggest pull backs vs a year ago have been amongst 18-34 year old's, those on lower incomes and females. Those with annual incomes in the $60-100k were notably more positive, both compared to previous years and with other groups.
The picture from Consumer Sentiment more generally also shows a 'lukewarm' lead-in to the holiday period. Sentiment is tracking at similar levels to last year but with views around family finances notably softer.
<a href="/images/2016/11/23/Screen%20Shot%202016-11-23%20at%209.08.37%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/23/Screen%20Shot%202016-11-23%20at%209.08.37%20AM.png" alt="">
 
Casting our gaze back further, over the entire 42yr history of the survey, the sentiment lead-in to Christmas 2016 is in the middle of the pack – a long way above the bleak recession years in the early-90s and early-80s and deeply unsettled GFC year in 2008 but also a far cry from the 'golden' years in the mid-80s, the early to mid-2000s and the post GFC bounce in 2009. We will leave it to readers to draw parallels with weather patterns, cricket performances and the like. 
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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